The economic snapshot known as the Beige Book was released Wednesday and based on its contents, we shouldn’t expect any surprises at this month’s Federal Open Market Committee meeting. The Beige Book is used to gauge the health of the economy with on the ground reports from Federal Reserve contacts — banks and businesses — throughout all 12 Federal Reserve districts. The continued economic improvement necessary for the Fed to eventually begin boosting short-term interest rates will appear in the Beige Book, and it is often looked to for clues about how the Fed will view the state of the economy when it next meets.
While the economy was improving as of the late February polling, the pace was modest and impacted by the spate of winter snowstorms around much of the country.
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I’ve been watching lots of 1970’s TV lately. My kids really dig those easy-to-follow storylines and I love the trip down memory lane. What’s most interesting from a grown-up’s perspective is how the value of money has changed over the passage of time. A million used to be a big number in the days when Jonathan Hart flew his Gulfstream II to play poker with oil sheiks and generals. $25,000 a year was a salary that put you in the top 10%. Mr. Hart had earned his lifestyle by becoming an industrialist and self-made “millionaire”
Yesterday’s million has given way to today’s trillion and a trillion is 1 million times the size of Mr. Hart’s million. I may be an econo
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Posted by: Brodie Jerrems in
Bank Rates on October 25th, 2011
Fairview State Banking Company makes investing worthwhile with a 24-month CD rate of 1.20% APY. With CD accounts gaining popularity as a relatively safe investment option, locking a high interest CD rate like this can help you earn substantial returns without the hesitancy.
CD Rate Terms and Conditions
Members are required to provide a minimum deposit of $500 upon opening CD accounts with Fairview State Banking Company. To earn dividends at the 1.20% APY CD rate, a minimum $2,500 balance must be maintained, and funds must remain in the account until maturity which is 24-months. Withdrawing funds prematurely may result in penalties.
About Fairview State Banking Company
Fairview State Banking Company is an FDIC-insured community bank within Fairview, Illinois.
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Maumee Educators Federal Credit Union continues to provide a high yield savings account under their share savings. This best savings account is tiered and has the following current interest rates:
- $100 to $9,999 1.00% APY
- $10,000 to $29,999 1.05% APY
- $30,000 to $49,999 2.00% APY
- $50,000 and above 2.25% APY
You can start earning these high interest savings account when you deposit a minimum of at least $5 to open an account. You need to maintain an average daily balance of $100 or more to earn these best savings account rates. The dividends of these money in the bank deal are compounded and paid every quarter.
Under federal regulations, you are only limited up to 6 withdrawals or transfers per statement cycle by means of pre-authorized, automatic transactions, check, debit card, telephone, or draft. If you exceed t
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Posted by: Brodie Jerrems in
Bank Rates on October 22nd, 2011
POUND
The Pound was well supported against the Dollar and Euro this morning, with risk sentiment coming back in to the market as investors looked for short term profits on GBP/USD in particular. “The spike higher in Cable was a good opportunity to sell,” said a spot trader. “We maintain our bearish view on it given prospects of more QE, although a move above $1.5850 could see a short squeeze up to the $1.5930/40 area.” The Pound still remains vulnerable after the BofE signalled yesterday that there may be need to raise QE further than the £75 billion yesterday.
Buying by a U.K clearing bank overnight helped the Pound gather strength in morning trading against the Dollar, and consequently finding support against the Euro although trading on the GBP/EUR cross was still in tight ranges as expected. “The min
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If you need to send funds abroad there are several factors that you should take into account. A valid bank account is used to send and receive funds anyplace. A legitimate company, for example, Caxton that has been in business for at least five years is also the best way to secure your finances. And being aware of the terms and conditions regarding international money transfers is also another important factor to keep in mind. Once you consider all these factors, it will be an easy task to transfer your money abroad without any problems or unexpected obstacles along the way.
A quick search online will reveal many service providers on money transfer abroad. There are hundreds of companies offering online services and most of them are quite good. One of the major competitors in the market today is Caxton. Some companies offer agent locations worldwide and online portals. Read more…
Chaarat Gold Holdings Ltd., the British Virgin Islands-registered exploration and development company having assets in the Kyrgyz Republic, announced that David Tang and Luo Tao, the representatives of China Nonferrous Metals and Mining Co. Ltd, on 14 October 2011 resigned as non-executive Directors of the company. BVI company’s Board and CNMIM will continue to work together, despite the resignations, and CNMIM has emphasised that all options in respect of their holding in the company and participation in the project will remain open.
According to the investment agreement signed in 2009, CNMIM were entitled to appoint two directors to the Board of the BVI company, based on 20 per cent interest in the share capital of Chaarat. As a result of the share placement completed in March 2011, the holding of CNMIM was diluted to the level below 9%.
Bloomberg published an interesting article about boosting the economy by helping the self employed. Many of these are laid off workes that have reinvented themselves as small businesses. They face the same challenges than most larger business owners. Actually, they face worse challenges because many don’t have substantial capital and end up living paycheck to paycheck or more specifically customer payment to customer payment. One way to break this cycle and to help the small business grow is to use a business financing solution such as factoring.
There is a growing field of companies that offer small business factoring specifically to self employed individuals. As opposed to most factoring companies which only work with businesses that invoice more than $50,000, these small business factoring specialists work small businesses only those that invoice *less* than $20,000. Also, Read more…
A significant milestone for green banking was achieved when Green Bank in Texas (link) passed the $1 billion in assets mark. Hitting the psychologically-important barrier should help assure shareholders and customers that sustainable banking at a larger scale remains possible.
From the Green Bank press release:
Green Bank, N.A. has now reached $1 billion in total assets, raising its profile in Texas and placing it in the top tier of banks nationwide. Th
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